Finally Chronic Dev Team has released the most awaited Untethered jailbreak for A5 devices which includes iPhone 4S and iPad 2. The solution has been named as Greenpois0n Absinthe V0.1.2.1 allows you to jailbreak both iPhone 4S (running iOS 5.0 or either 4S version of 5.0.1) and/or iPad 2 (all Wi-Fi only, GSM & CDMA devices supported; must be running iOS 5.0.1**). It is pertinent to mention here that currently jailbreaking solution is only available for Mac users.

You can download the Greenpois0n Absinthe for Both Mac and Windows from below mentioned links